Description
INCREDIBLE INVESTMENT OPPORTUNITY! There has never been anything quite like this one-of-a-kind, oceanside compound offered along the beautiful shores of Lavallette, New Jersey! Comprised of two distinct structures, 807 Grand Central Avenue features both a multi-family AND single-family home just steps away from the sand. Located within a residential-commercial zone on an ocean block in the heart of Lavallette, the multi-family structure is complete with four (4) 1-bedroom, 1-bathroom apartments, each with designated private entrances and an upper-level unit which opens to an outdoor deck. All units may be rented out individually for tremendous passive income potential!Nearest the sand, a single-family residence comprised of 5 bedrooms and 1.5 bathrooms poses as a truly classic beach home, also outfitted with an upper-level deck and awe-inspiring ocean views. The current total rent in "as is" condition is ~$100,000, annually, but a little TLC brings the potential to a grand total of $150,000 - $160,000, annually. With favorable taxes, this is a truly remarkable investment opportunity. Conveniently located within walking distance to iconic bars, restaurants and so much more!
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9BEDS
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0.11ACRES
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5BATHS
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11/2 BATHS
School Information
Description
INCREDIBLE INVESTMENT OPPORTUNITY! There has never been anything quite like this one-of-a-kind, oceanside compound offered along the beautiful shores of Lavallette, New Jersey! Comprised of two distinct structures, 807 Grand Central Avenue features both a multi-family AND single-family home just steps away from the sand. Located within a residential-commercial zone on an ocean block in the heart of Lavallette, the multi-family structure is complete with four (4) 1-bedroom, 1-bathroom apartments, each with designated private entrances and an upper-level unit which opens to an outdoor deck. All units may be rented out individually for tremendous passive income potential!Nearest the sand, a single-family residence comprised of 5 bedrooms and 1.5 bathrooms poses as a truly classic beach home, also outfitted with an upper-level deck and awe-inspiring ocean views. The current total rent in "as is" condition is ~$100,000, annually, but a little TLC brings the potential to a grand total of $150,000 - $160,000, annually. With favorable taxes, this is a truly remarkable investment opportunity. Conveniently located within walking distance to iconic bars, restaurants and so much more!
© 2021 Monmouth-Ocean MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or The MEEHAN Group of RE/MAX New Beginnings Realty. Data last updated 2021-02-24T23:19:35.16.
Listing information © 2021 Monmouth-Ocean MLS. Listing provided courtesy of Salvatore Ventre of Re/Max The Real Estate Leaders.